Wealth Index
The wealth index reflects the overall economic prosperity and financial well-being of a county's residents based on income levels, employment rates, and income inequality metrics.
Income Statistics Overview
| Metric | Red River Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Median Household Income | $44,599 | $60,029 | $78,145 |
| Median Personal Income | $46,875 | $54,233 | $61,726 |
| Average income growth | 3.8% | 4.0% | 5.1% |
| Six-Figure Earners | 6.1% | 9.4% | 13.2% |
The median household income in Red River Parish is about 26% lower than in Louisiana. Income has been growing slower in Red River Parish (3.8%/yr) than in Louisiana (4.0%/yr).
About 6% of adults in Red River Parish earn six figures ($100,000 or more) a year, lower than the Louisiana average of 9%.
Median Household Income 2009–2023 Trend
Median Household Income Over Time
Median household income in Red River Parish, Louisiana grew by 38.5% from 2009 to 2023, reaching $44,599 in 2023. That's an average of about 3.8% per year.
Economic Inequality in Red River Parish | Gender Pay Gap | Gini Coefficient
| Metric | Red River Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.622 | 0.586 | 0.570 |
| Male Median Income | $51,005 | $63,825 | $67,746 |
| Female Median Income | $37,383 | $46,053 | $54,793 |
| Gender Pay Gap | 26.7% | 27.8% | 19.1% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Red River Parish, it is 0.622, higher than Louisiana's 0.586, so income is less evenly distributed here than there, and higher than the US's 0.570, so income is less evenly distributed here than there.
Men's income is about 36% more than women's income in Red River Parish, Louisiana. Over a 35-year career, a 36% wage gap accumulates to roughly $476,770 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Red River Parish, Louisiana has narrowed from about 42% to 27% in 2023. In dollar terms, the gap has narrowed by $2,493 since 2009.
Employment
| Metric | Red River Parish | Louisiana Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.2% | 6.3% | 5.2% |
| Working from Home | 2.8% | 7.2% | 13.4% |
| Commute time (minutes) | 18 | 21 | 22 |
Approximately 92 people are unemployed in Red River Parish, Louisiana.
The average commute time in Red River Parish is 18 minutes, shorter than the 21 minutes in Louisiana.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Red River Parish, Louisiana has fallen from 8.9% to 3.2% in 2023.
Conclusion
Considering all these factors, Red River Parish, Louisiana has an overall wealth index grade of D, making it somewhat worse than Louisiana, and somewhat worse than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Red River Parish, Louisiana.
How Rich Is Red River Parish, Louisiana?
Red River Parish has a wealth index grade of D. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a D grade means residents are somewhat worse off than the U.S. average. The median household income is $44,599, about 26% lower than the Louisiana average of $60,029.
What is the current median household income in Red River Parish, Louisiana?
As of 2023, the median household income in Red River Parish, Louisiana is $44,599.
What was the median household income in Red River Parish in 2023?
In 2023, the median household income in Red River Parish, Louisiana was $44,599.
What was the median household income in Red River Parish in 2020?
In 2020, the median household income in Red River Parish, Louisiana was $33,120.
What is the Gini coefficient in Red River Parish, Louisiana?
The Gini coefficient in Red River Parish is 0.622. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is higher than the US average of 0.570, so income is distributed less equally than in the country overall.
How has the income gap between men and women changed in Red River Parish, Louisiana?
Since 2009, the income gap between men and women in Red River Parish, Louisiana has narrowed from about 42% to 27% in 2023. In dollar terms, the gap has narrowed by $2,493 since 2009.